Abstract. In the first part of our paper we emphasize the role of SMEs in achieving sustainable economical, social and environmental goals, in both emerging and developed economies. In the second part of the paper we briefly present the macroeconomic trends and business climate for SMEs during crisis and post-crisis, while further are presented the most common conventional and alternative financing solutions for SMEs. The fifth part of the paper represents an inquiry about the government authorities’ role in supporting SMEs. The paper concludes with the recent changing paradigm related to SMEs financing, from a passive intervention of authorities towards a closer approach to real economy, providing the paths towards a robust and sustainable growth.

Keywords: financial gap, business angels, mezzanine financing, credit guarantee, SMEs, financing solutions, financial crisis, government policies, structural funds.